The total hours worked in Advertising and Market Research in Canada showed fluctuations over the past decade, starting at 112.99 million hours in 2013 and reaching 119.71 million hours in 2023. Notable variations include an initial uptrend between 2013 and 2015, a significant dip in 2016, followed by a relatively stable period with minor annual changes. From 2013 to 2023, the year-on-year variation ranged from -7.23% to 6.75%, indicating periods of both growth and decline. The Compound Annual Growth Rate (CAGR) reflects these fluctuations, averaging from 2.41% down to -0.61% and back up to 0.79% in the recent five years.
From 2024 onwards, forecasted data suggest a consistent growth trend with a 5-year CAGR of 0.62%, indicating a gradual recovery and stabilization in total hours worked. By 2028, total hours are expected to reach 124.47 million, representing a 3.12% growth from 2023.
Future trends to watch for include the impact of technological advancements in advertising and market research, the adoption of AI and data analytics, shifts in consumer behavior, and potential economic fluctuations that could influence employment and work hours in the industry.
